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					                  Council of Petroleum Accountants Societies

                     OPAS E XTRA!
                                                         July 2010

COPAS Announces
July 14, 2010…Your COPAS Board is
proud to announce that we have now
completed and signed an Education/
Training agreement, achieving one of
our key objectives, as evidenced in our
COPAS Bylaws! As we enter a new era in COPAS history, we are excited to increase ways to
offer training.

Many alternatives were considered and a great deal of time and effort has culminated in this
educational endeavor. This is a joint training agreement between COPAS and MPACT. An
Operating Committee, Darrell Gingerich and Steve
Irizarry (COPAS), and Pat Martindale (MPACT), will          INSIDE THIS ISSUE
direct this venture. The Operating Committee will
                                                         COPAS announces
solicit established training course materials from a                                           1
                                                         Education Agreement
variety of sources, and they will contract with other
parties to write new training courses as appropriate.    COPAS Fall Meeting
                                                         September - Salt Lake City

                                          Watch for      COPAS has moved!                      3

                                          information    COPAS - Turning 50                    3

                                           in the fall   Notice: CEPS HPM Survey               3
                                             issue of
                                          ACCOUNTS!      COPAS Board of                        4
                                                         Director Nominees
                                                         The Hungry Auditor                    5
    Page 2               July 2010                                 COPAS EXTRA!

          COPAS Fall 2010
          Salt Lake City, Utah
    Meeting date: September 20-24
    Registration deadline: August 18

    Register for meeting:

    Reserve Hotel:
    Little America Hotel
    Room rates if booked by August 18:
    Be sure to ask for the COPAS rate!
    Garden Room $149 per night
    Tower Room $169 per night
    Reservations: (800) 453-9450
    Make airline reservations                                      Registrat
                                                                   de adline
    Any questions?
    John Baker               Craig McBeth
                                                                       A ugust 1
    801.573.2472             801.526.3757

    Hosted by the Rocky Mountain Petroleum Accountants Society

                                                IMPORTANT NOTICE
                                 You have a unique opportunity to ride the Olympic bobsled.
                                 This is a one-minute very intense ride. It’s not for everyone,
                                 especially those with back or neck problems, and pregnant
                                 women. But for those who take the opportunity, we promise
                                 the experience of a lifetime! The minimum required to offer
                                this event is 30 riders. If we do not have 30 riders, we will not
                                           be able to offer the event. Cost is $75.

                                      Interested? Contact either Lynn Wood or
                                Jim Chesley at 801.278.4900 to reserve your spot!
 Page 3                  July 2010                                         COPAS EXTRA!

                                                                 Please note our new address!
    The COPAS
                                                                  445 Union Blvd., Suite 207
     Office has                                                   Lakewood, Colorado 80228
                                      Spring 2011 COPAS Meeting in The Woodlands, TX
                                                       April 25-29 - Hosted by the
                                          Petroleum Accountants Society of Houston (PASH)

                                   COPAS is turning 50! What were YOU doing in 1961?

                                              Your mission…dig out those old photos and email
                                           a fun photo of yourself from 1961 to

                                   We will have a contest at the meeting to see who can ID the most people from 1961!

                                     A celebration to remember! Plan to attend & make your reservations early!
                                         You do NOT want to miss a minute of this meeting!

    IMPORTANT NOTICE regarding the CEPS HPM Survey…
The CEPS Historical Price Multiplier (HPM) survey has been mailed. Did your company receive
a survey?
Please take a moment to participate in this year’s HPM survey as the survey is used to determine
market values of equipment and tubular, which in turn provides the basis for the CEPS pricing
system. Your participation in this survey is vital because:
1. Billings to and from partners will be more accurate
2. Transfer charges between properties will be more accurate
3. Increased number of responses to the survey produces values that are more reflective of market
4. More accurate billings lead to fewer audit exceptions
If your company received a survey, please contact your materials managers encouraging them
to complete and return it. The survey will appear lengthy because it covers a broad range of items.
You are asked to provide prices on as many items as you have available; however, keep in mind a
response on a few items is better than no response at all.
If your company did not receive a survey and would like to participate, please contact the COPAS
office and provide your company contact information. The office will contact Taylor & Roth to have
a confidential survey sent to your company.

If you have any additional questions regarding the CEPS (Historical Price Multiplier) survey, please
contact Rick Jones, CEPS Chair at, or call (832) 636-2628.

CEPS surveys and data are confidential and will remain anonymous.
 Page 4                    July 2010                                     COPAS EXTRA!

               COPAS Board of Director Nominees
                             Mary Frances Hermes, CPA
                             Goals: Education, increase participation
                              in APA®; review and rewrite of COPAS
                              documents; promote advantages of
                              COPAS to companies.

                             COPAS Leadership: society board and
                              president, chair of COPAS Financial
                              Reporting Committee, meeting planning

                             Main areas of expertise:
                             Joint Interest

                                                                                 John Hultin, CPA, CIA
                                                               Goals: Increase COPAS stature in industry;
                                                                promote COPAS publications / education;
                                                                expand education opportunities; encourage
                                                                participation and leadership opportunities.

                                                               COPAS Leadership: society board and
                                                                president, COPAS board member and

                                                               Main areas of expertise:

                                                         Rich Moring III
Rick Jones, CPA, APA®                                            (California)

(Tulsa)                                        Goals: Encourage participation
                                                of smaller societies; increase
Goals: Increase participation at COPAS          conference attendance and
 meetings; education / APA®; review and         representation; education;
 rewrite of COPAS documents; promote            implement technology.
                                               COPAS Leadership: society
COPAS Leadership: society board and
                                                board and president, meeting
 president, meeting planning committee.
                                                planning committee.
Main areas of expertise:
                                              Main areas of expertise:
Joint Interest
                                               Small Companies
 Page 5                         July 2010                                        COPAS EXTRA!

The Hungry Auditor...
Two local restaurant chains in the Houston area deserve mention. One of these serves the
downtown Houston area, while the other has locations throughout Houston, as well as Dallas.


In business since 1978, Treebeards has six locations in downtown Houston offering delicious
Southern cooking. My favorite is Treebeards In The Tunnel located in Houston’s tunnel system
at 1100 Louisiana. I am hooked on the Red Beans & Rice with Cheese offered daily and the
Chicken Fried Chicken on Tuesdays and Wednesdays. This location is very popular and at-
tracts a long line of diners. The line moves at a good pace, and there always seems to be a
table open, despite the crowds. Based on price, flavor and atmosphere, Treebeards earns a
rating of 5 out of 5 audit tic marks: √√√√√

Café Express

With twelve locations in the Houston area and five in and around Dallas, Café Express stresses
freshness and flavor. The menu includes soups, salads, pastas, burgers, sandwiches and
grilled and roasted entrees. I heartily recommend the Homemade Southwest Chili, the Grilled
Chicken Caesar Salad, the Danish Blue Cheese and Smoked Bacon Burger or the Roast Beef
Sandwich with Swiss Cheese. No meal would be complete without a Dreambar for dessert.
Another plus, the restaurant locations include a wine bar. Café Express earns a rating of 4 out
of 5 audit tick marks based on price, flavor and atmosphere. √√√√√

Is anyone else getting hungry? Do you have a “hidden gem” in your city? Is there an out
of the way great place to eat, known only to locals? Email suggestions and comments to

The above article is not an endorsement by COPAS, and represents the opinion of the author, not the opinion of
COPAS. The author has received no remuneration or any benefit from restaurants reviewed.

                                                                             COPAS EXTRA!

                                                                             Enhancing communication
                                                                                   with members…

                                                                         Barbara Koch, Editor

I believe one of us here knows why our coffee bill has skyrocketed...

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